Osisko Releases Initial Drilling Results from Malartic, Quebec.

MONTREAL -- Osisko Exploration Ltd. (TSX VENTURE:OSK) (Deutsche Boerse:EWX) is pleased to announce the results from the first three holes of the Phase One drill program on its 100%-owned Canadian Malartic gold property, located in the Abitibi region of Quebec. The current program is focused on the F Zone, which is one of five near-surface mineralized zones on the property. The F zone contains a historical resource (pre 43-101) of 2,039,018 metric tonnes @ 1.78 g/t Au (116,875 oz. gold), and is part of a global historical resource of over 520,000 oz. on the property.

Results of the first three holes are as follows:

Hole No.   From (m)   To (m)   Length (m)   Au g/t
       CM05-651      31.28   125.15      93.9         1.01
       CM05-652      30.36   173.56     143.2         1.01
       CM05-653      30.60   117.78      91.7         1.61
     (including)     30.60    59.10      28.5         2.27

The average grades were calculated using a lower cut-off of 0.65 g/t Au over 10 m.Using a lower cut-off of 0.40 g/t Au over 10 m produces the following averages:0.83 g/t Au over 151.7 meters (CM05-651);0.85 g/t Au over 210.1 meters (CM05-652);and 1.61 g/t Au over 91.7 metres (CM05-653).

All of the holes contain disseminated gold and pyrite mineralization hosted in potassic-altered, fine-grained granodiorite porphyry. The above holes were collared in the western portion of the F zone, over a strike length of 60 meters.CM05-651 and CM05-652 were collared outside the area included in the historical resource estimate (please see the company web site for drill hole locations). Furthermore, hole CM05-653 was extended beyond previous drilling depths at that location, and encountered 28 meters of additional gold-bearing mineralization.

The historical resource estimate conducted by Lac Minerals was restricted to the central portion of the overall deposit, where drilling was most dense, and was based on a strike of 210 meters, width of 40 -120 meters and a maximum depth of 105 meters.Initial results and interpretation of all currently available data indicates the F Zone extends over a minimum strike length of 410 meters, an average width of 80 meters and to a depth of 120 -170 meters.

Management is very pleased with the initial results which confirm the porphyry-gold nature and potential of the deposit, and is confident of increasing the size of the F zone. Both factors are important to the Company's objective of defining an economic, bulk-tonnage gold deposit.

Osisko Exploration Ltd. has not verified the classification of the stated historical resources under National Instrument 43-101 and therefore the above-quoted figures are reported as unclassified historical resource estimates.Resource estimates prepared under reporting codes other than National Instrument 43-101 should not be relied upon to conform to current standards and definitions. Osisko believes, however, that the reported resource estimates are relevant.

Mr. Robert Wares, P. Geo., is the Qualified Person responsible for the preparation of this news release.

Osisko Exploration Ltd. (TSX VENTURE:OSK)